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News SEPTEMBER

VIEWS: 5 PAGES: 2

									                                                                                                                             SEPTEMBER 2012



      mylcu.org            BANKING SOLUTIONS FOR OTSEGO COUNTY
                                                                                                                            News
                                                                                                                            24 GLEN AVE., COOPERSTOWN, NY 13326
                                                                                                                                 607-547-5700 • 877-378-6466




             Introducing LCU’s Newest                                                                                                  HOLIDAY CLOSING
                                                                                                                                    - Monday, Sept. 3, 2012 -
             Real Estate Solution: 5/5/5                                                                                                 LABOR DAY
If you are ready to get on the fast track to retire your Primary Residence Real Estate
Debt, or if you think you may be moving in the next five years and want to take advan-                                                  Youth Members
tage of great Real Estate Rates but don’t like the hassle, then Leatherstocking may have the                                                MONTHLY DEPOSIT
solution for you.
    At Leatherstocking Credit Union, you can secure a 15-year adjustable rate Real Estate
                                                                                                                                           INCENTIVE PROGRAM
Loan on your Primary Residence for a rate as low as 2.75% Annual Percentage Rate. You
lock into a rate as low as 2.75% APR today, and you are guaranteed that rate for the first
five years of the 15 year term.
    After the first five years your rate will be adjusted, based on a calculation using the
Wall Street Journal Prime rate, and the most the rate can increase is by 2.00% APR.
    Five years later the rate adjusts again for the last time with the same 2.00% APR
increase limitation.
    Five years later, if you stay with the plan, you can have that old-fashioned mortgage
burning party.
    Leatherstocking Credit Union is your community financial institution, and we have your
best interest in mind. Stop by our convenient location and speak with some of the friend-
liest loan officers you will ever have the pleasure to work with.
      *Loan rates may vary and are subject to credit approval. Other restrictions may apply. See us for complete details.
                                                                                                                                                                     New!
                                                                                                                                  With every deposit, Youth Members
                                           Save A Friend Up To 1.00%                                                              ages newborn to 17 will be entered into a
                                                                                                                                  monthly drawing for a $5.00 gift card. In
                                                                                                 Annual Percentage Rate*
                                           On a qualifying Leatherstocking CU auto, truck, or motor-                              addition, another $5.00 will be deposited
                                           cycle loan, or when they refinance the loan they transfer to                           into the Youth Member's savings account.
                                           LCU from the other guys.                                                               *$10.00 minimum deposit required to be eligible for
                                                                                                                                             incentives. See us for details.

                                           Save Yourself Up To 1.00%                             Annual Percentage Rate*
                                                                                                                                   LEATHERSTOCKING CU STAFF
                                                                                                                                  Mary T. Clarke . . . . . . . . . . . . . . . .President/CEO*
                                           On a qualifying Leatherstocking CU auto, truck, or motor-                              Joyce Weir . . . . . . . . . . . . . . . . . . . .Vice President*
                                           cycle loan, or when you refinance the loan you transfer to                             Linda Oldick . . . . . . . . . . . . .Accounting Manager*
                                                                                                                                  James Richardson . . . . . . . . . .Accounting Specialist
                                           LCU from the other guys.
                                                                                                                                  Carla Eckler . . . . . . . . . . . . . . .Accounting Assistant
                                           *Model year 2009 or newer. May not be used with other applicable offers to             Rob White . . . . . . . . . . . . . . .Underwriter/Collector
                                           a floor rate of 2.99% APR. Rates may vary, based on creditworthiness. Other              MLO#803701
                                           restrictions may apply. Offer ends 9/30/2012. See us for details.
                                                                                                                                  Anoel Kelly . . . . . . . . . .Financial Service Manager*
                                                                                                                                    MLO#803606
    “I Have to Have It” Toy Time Loan Sale                                                                                        Cindy Dresser . . . . . . . . .Lead Member Service Rep.
                                                                                                                                  AmyBeth Decker . . .Asst. Lead Member Service Rep.
          AS LOW AS 2.99% ANNUAL PERCENTAGE RATE ON                                                                               Chris Spencer . . . . . . . . . . . . .Member Service Rep.
                                                                                                                                                                          *Management Team
           MOTORCYCLES, ATVS, UTVS AND WATERCRAFT
With rates this low it’s easy to justify a toy, but hurry, these rates will not be around for
long. Stop in today for our Toy Time Loan Special:                                                                                      SCAN
  • Save up to 2.00% APR off when you revinance the loan you have with the other guys,                                                WITH YOUR
  • Or save up to 2.00% off Leatherstocking’s great rates on purchases.                                                             MOBILE DEVICE
*Rates as low as 2.99% APR on remainder of term. Model year 2009 or newer. May not be used with other                               TO ACCESS OUR
applicableoffers to a floor rate of 2.99% APR. Rates may vary, based on creditworthiness. Other restrictions may                       WEBSITE
apply. Offer ends 9/30/2012. See us for details.

 Lobby Hrs: Mon.-Thurs., 8 - 4; Fri., 8 - 5:30; Sat., 8 - Noon • Drive-thru open 8 am Mon.-Sat.                                              We do business in accor-
                                                                                                                                            dance with the Federal Fair
24 Hr. ATMs: Main Office, 24 Glen Ave. & Bassett Hospital Lobby, 1 Atwell Rd., Cooperstown                                                  Housing Law and the Equal
Phone Access Teller System: 607-547-5700 • 877-378-6466, option 4 • E-mail: info@mylcu.org                                                    Credit Opportunity Act.
Page 2 • Newsletter • September 2012                                Loan Addendum & Rate Schedule
                                                                             This Addendum is incorporated into, and becomes part of, your
                                                                                     LoanLiner Credit Agreement. Effective 8-31-12.
                                                              SUBACCOUNT DESCRIPTION                           APPROXIMATE TERM                       ANNUAL PERCENTAGE RATE
BANKING SOLUTIONS FOR OTSEGO COUNTY
                                                              Autos, Boats, Motorcycles, etc.                 24 months (A - E members)                             3.49% - 17.00%
                                                                                                              36 months (A - E members)                             4.49% - 17.50%
 Real Estate Solutions                                                                                        48 months (A - E members)                             4.99% - 17.50%
 FROM YOUR CREDIT UNION                                                                                       60 months (A - D members)                             5.49% - 17.25%
• Friendly staff members make the                                                                             72 months (A - B members)**                           5.99% - 7.49%
                                                                                                              **20k and 2010 model year or newer
   experience as painless as possible
• Finance rates are very competitive                          General Loans                                   60 months                                             9.95% - 18.00%
                                                              D&E paper limited to 48 mo. term
• Product features meet your needs
     Leatherstocking Credit Union offers mort-                Education/Computer Loans                        60 months                                              7.95% - 16.00%
                                                              D&E paper limited to 48 mo. term
gage products that allow you to make a
choice based on your needs.                                   HE Loan up to 80% LTV               120 months (A - D members)           6.50% - 9.50%
     • First Mortgage: A fifteen (15) year                    HE Loan up to 80% LTV               180 months (A - D members)           7.50% - 10.50%
fixed rate first mortgage for as low as 2.90%                 Variable rate HE Loan up to 80% LTV 180 months (A - D members)           3.25% - 6.75%
Annual Percentage Rate (APR).                                 Variable rate HE Loan up to 80% LTV 180 months (A - B members)           2.75% - 6.50%
     • Home Equity Line of Credit: A variable
                                                              Share Draft Credit Line                                                          13.25%
rate Home Equity Line of Credit with a five year
draw starting with rates as low as 3.25% APR.                 VISA Platinum                                                            9.90% - 18.00%
     Draw down and pay on the line during                                 *LOAN SPECIALS MAY APPLY. Please call 607-547-5700 to verify rates.
                                                              Share and Certificate Secured Loans will be granted at 3% over the share/certificate rate.
the five year draw as frequently as you desire.               Loan Skip-a-Pay Fee per Loan: $25.00. Pending approval. Member may skip up to 3 times per loan.
     • Home Equity: A fixed rate Home                         Loan Late Fees: If your loan is more than 15 days late you will be charged a fee of $25.00.
                                                              VISA Credit Card Late Payment Fee: $25.00.
Equity Loan with rates as low as 6.50% APR.                   VISA Return Check Fee: $25.00.
     So if you are trying to lock into a record               Collection Costs: For borrowers in NY: You promise to pay, subject to any limits under applicable law, all costs of col-
low rate for 15 years or if you need the flexi-               lecting the amount you owe under this agreement. This includes, but is not limited to, reasonable attorney’s fees and
                                                              court costs as well as legal expenses for any bankruptcy, appeals, or postjudgment proceedings.
bility of being able to use the equity in your                Please Take Notice: The Credit Union has the right to change the interest rate on your vehicle or RV loan to a signa-
house for a remodel or special project, we                    ture rate when you do not comply with your promise to provide information so the Credit Union can file lien interest.
have the solution.                                            Please refer to Credit/Security Agreement and Insurance Certificate (#12 and #20).
                                                              Loan Rate Discounts: You can obtain a .25% reduction on the interest rate of an approved loan when you have your
 *Loan rates may vary and are subject to credit approval.     loan payments made by Payroll Deduction. Save an additional .25% on an approved loan when you have a LCU Debit
 Other restrictions may apply. See us for complete details.   Card. Does not include mortgage, 90-day rate, HELOC, HE Loan, Share Draft Credit Line, or VISA.

Credit Card Solutions                                               Share & Share Certificate Rates*                                     •   Effective 8-31-12
 FROM YOUR CREDIT UNION                                       SHARE DRAFT                                                    SHARE CERTIFICATES**
Tired of Credit Card Changes you didn’t                       No balance requirement.                                        TERM                                      $1,000 & over
                                                              SHARE SAVINGS                                                   6 - 11 mo.                                 0.20%      APR
see coming? Our quality solution offers you a                                                                                12 - 23 mo.                                 0.25%      APR
                                                                .03% Annual Percentage Rate* (APR)
special balance transfer rate of 5.99%                            Minimum balance required: $5.00. Average daily             24 - 35 mo.                                 0.50%      APR
APR, good through 3/31/2013, when you trans-                       balance required to earn dividends: $500.00               36 - 47 mo.                                 0.75%      APR
fer your competing credit card balances. Enjoy                                                                               48 - 59 mo.                                 1.00%      APR
                                                              MONEY MARKET ACCOUNT                                           60 mo.                                      1.25%      APR
the following features for ease and convenience:                                                                             **$1,000 min. deposit.
   • Auto-Transfers for on-time payments                      & TIERED RATES
                                                              $ 2,500 - $19,999.99                     0.03% APR             IRA SHARES                                     .03% APR
   • 24/7 Online Access                                                                                                      Minimum balance required: $5.00. Average daily balance
                                                              $20,000 - $74,999.99                     0.03% APR
   • Enhanced Security with Verified by                       $75,000 and over                         0.03% APR
                                                                                                                             required to earn dividends: $500.00. Up to $6,000.00 maxi-
                                                                                                                             mum deposit for 2011 tax year.
     VISA®                                                                         Ask for details.
                                                                                                                             IRA CERTIFICATES***
                                                              SMART START CERTIFICATE AND                                    TERM                                      $1,000 & over
                                                              ROTH SMART START CERTIFICATE                                   24 mo.                                      0.50% APR
                                                              Preferred Rate           1.35% APR                             48 mo.                                      1.00% APR
Offer ends 12/31/12.                                                               Ask for details.                          60 mo.                                      1.25% APR
                                                                                                                             ***$1,000 min. deposit.
                                                              PREFERRED SAVINGS
  APPLY FOR YOUR NEXT LOAN AT                                 $10,000 - $24,999.99                     0.03% APR             YOUTH SHARE CERTIFICATES****
                                                              $25,000 and over                         0.10% APR             TERM                                         $500 & over
                                                                                    Ask for details.                         12 mo.                                      0.25% APR
                                                                                                                             ****$500 min. balance.
                                                              *NOTE: All rates are subject to change without notice. PLEASE CALL 607-547-5700 to verify rates.
        & SAVE MONEY with a
  Debit Card & Payroll Deduction!*                                To learn more about all of the great services we offer,
 • .25% Annual Percentage Rate discount                               give us a call, stop in, or visit www.mylcu.org.
    when you have a LCU MasterCard
    Debit Card, plus…
 • .25% Annual Percentage Rate additional                         Lobby Hrs: Mon.-Thurs., 8 - 4; Fri., 8 - 5:30; Sat., 8 - Noon
    discount when you have Payroll Deduction.                                 Drive-thru open 8 am Mon.-Sat.
*Loans are subject to credit approval and loan rates are
subject to change. Discounts apply to all new & used                      24 Hr. ATMs: Main Office, 24 Glen Ave.
auto loans, secured loans, and general loans only.                  & Bassett Hospital Lobby, 1 Atwell Rd., Cooperstown

								
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